Court Strips Emefiele of $2.04M, Choice Properties in Final Forfeiture Ruling

Segun Atanda/

The Federal High Court in Lagos has stripped former Central Bank of Nigeria (CBN) Governor Godwin Emefiele of assets worth millions, marking a significant outcome in his highly publicized financial misconduct case.

Presiding Judge Deinde Dipeolu ordered the final forfeiture of $2.045 million, seven choice properties, and two Queensdorf Global share certificates associated with Emefiele, effectively ending his control over these valuable holdings.

The judge held that Emefiele was not able to connect his lawful earnings as a staff of a new generation bank and the CBN to the acquisition of the properties.

The court also forfeited the seven choice landed properties on the ground that Emefiele, was not able to connect his lawful earnings from a bank and the Central Bank of Nigeria (CBN) to the acquisition of the properties.

The court’s decision follows charges filed by the Economic and Financial Crimes Commission (EFCC), which alleged that Emefiele amassed wealth far beyond his legitimate earnings, using his position to misappropriate funds, manipulate foreign exchange, and funnel public resources for personal gain. Despite the weight of these accusations, the case concluded without additional fines or jail time, raising questions about the extent to which prominent figures are held accountable.